author: Bart Swiatek
Microsoft and TikTok - Talks Of Acquisition Continue
Microsoft has confirmed the rumors from a few days ago - the company is negotiating with the Chinese company ByteDance to take over the American branch of TikTok.
IN A NUTSHELL:
- Microsoft has confirmed that it is holding talks with ByteDance on the acquisition of the American branch of TikTok;
- The Redmond giant is in contact with the US administration and wants to finish the negotiations before September 15;
- The talks have already been stopped once due to tensions on the US-China line.
The rumors from a few days ago have been confirmed: Microsoft and ByteDance are holding talks on a possible acquisition of the American branch of TikTok by the former company. The information was published in a note on the official blog of the Redmond giant.
"Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States.
Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury," reads the note.
The matter will be resolved in the coming weeks - Microsoft plans to complete the negotiations by September 15, 2020. The company is in contact with the US administration.
"Microsoft will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President," we read further on.
The case is related to the decision of U.S. President Donald Trump, who decided to ban the application in his country last Friday. It is worth noting that due to political tensions between the USA and China talks have already been put on hold once, but have been resumed.